A LETTE FROM NORTH AMERICA

摘要

The construction market in North America remains one of the largest in the world;in 2018,output reached US$1.9 trillion(at 2017 constant prices),up from US$1.8 trillion in 201 7,primarily reflecting a rise in construction activity in the US.GlobaiData expects growth to continue to increase over the forecast period(2019-2023),albeit only marginally,with total output projected to increase to a value of US$2 trillion in 2023.Outlook in North America Having expanded by 1.8% in 2018 in real terms,construction output growth in North America is expected to decelerate to 0.6% in 2019,before increasing slightly to an annual average of 1.2% over the remainder of the forecast period.Growth will be mostly driven by increasing investments in infrastructure,industrial,and energy and utilities construction.However,labour shortages,expensive land,and rising material costs will limit the expansion of the region's industry.In particular,residential construction is expected to grow at slower pace amid higher building costs and project delays.In addition,heightened policy uncertainty surrounding trade tensions and weakening global economic growth will continue to weigh on business sentiment and hold back investment in major construction projects.